The 1011 Liquidation Event: A Wake-Up Call for Systemic Rules in Crypto Felix 2025/10/17 16:22 The cryptocurrency market, devoid of the quantitative valuation standards found in traditional finance, is driven purely by speculative sentiment. This leads to extreme volatility and unpredictability. The article highlights the following core issues: Speculative Nature Cryptocurrencies lack fundamental underpinnings like price-to-earnings ratios or supply chains, with their value dictated largely b...

The 1011 Liquidation Event: A Wake-Up Call for Systemic Rules in Crypto Felix 2025/10/17 16:22 The cryptocurrency market, devoid of the quantitative valuation standards found in traditional finance, is driven purely by speculative sentiment. This leads to extreme volatility and unpredictability. The article highlights the following core issues: Speculative Nature Cryptocurrencies lack fundamental underpinnings like price-to-earnings ratios or supply chains, with their value dictated largely b...

The next wave of growth for perpetual futures decentralized exchanges may emerge within the Solana ecosystem, not on Hyperliquid. The core arguments are as follows: * Architectural Advantages: Solana allows for application-specific optimizations at the validator level. Running a dedicated trading engine within validator nodes can achieve a sub-second trading experience comparable to Hyperliquid. Compared to Ethereum L2s, which are burdened by technical debt like centralized sequencers, transa...

The next wave of growth for perpetual futures decentralized exchanges may emerge within the Solana ecosystem, not on Hyperliquid. The core arguments are as follows: * Architectural Advantages: Solana allows for application-specific optimizations at the validator level. Running a dedicated trading engine within validator nodes can achieve a sub-second trading experience comparable to Hyperliquid. Compared to Ethereum L2s, which are burdened by technical debt like centralized sequencers, transa...

Subsquid (SQD) is a decentralized blockchain data infrastructure project designed to address the issue of high blockchain data transparency coupled with practical accessibility challenges. Through its modular, decentralized network architecture, it enables developers to access and utilize multi-chain data efficiently and flexibly. Core Highlights: * Decentralized Architecture: The SQD network supports over 200 blockchains, with data distributed across numerous global nodes, ensuring high avai...

Subsquid (SQD) is a decentralized blockchain data infrastructure project designed to address the issue of high blockchain data transparency coupled with practical accessibility challenges. Through its modular, decentralized network architecture, it enables developers to access and utilize multi-chain data efficiently and flexibly. Core Highlights: * Decentralized Architecture: The SQD network supports over 200 blockchains, with data distributed across numerous global nodes, ensuring high avai...

Conditional Liquidity is a major innovation in the DeFi space aimed at addressing the shortcomings of traditional passive liquidity models, particularly on high-performance public chains like Solana. It seeks to redefine trading fairness and efficiency through intelligent rules. The Dilemma of Traditional DEXs Under the conventional Automated Market Maker (AMM) model, liquidity pools are open 24/7, making regular users vulnerable to "toxic order flow" such as sandwich attacks and front-runnin...

Conditional Liquidity is a major innovation in the DeFi space aimed at addressing the shortcomings of traditional passive liquidity models, particularly on high-performance public chains like Solana. It seeks to redefine trading fairness and efficiency through intelligent rules. The Dilemma of Traditional DEXs Under the conventional Automated Market Maker (AMM) model, liquidity pools are open 24/7, making regular users vulnerable to "toxic order flow" such as sandwich attacks and front-runnin...

The First Mover on Wall Street In 2019 JPMorgan quietly flicked the switch on JPM Coin, turning itself into the first global systemically important bank to put an institutional-grade stable-coin into daily production. Built on the bank’s own Quorum consortium chain and settled inside its Interbank Information Network (IIN), the token has already cleared more than USD 1.5 trillion and clocks an average USD 2 billion a day in 2024—figures that dwarf most crypto-native rivals. Market Canvas: $22...

The First Mover on Wall Street In 2019 JPMorgan quietly flicked the switch on JPM Coin, turning itself into the first global systemically important bank to put an institutional-grade stable-coin into daily production. Built on the bank’s own Quorum consortium chain and settled inside its Interbank Information Network (IIN), the token has already cleared more than USD 1.5 trillion and clocks an average USD 2 billion a day in 2024—figures that dwarf most crypto-native rivals. Market Canvas: $22...

The Big Picture—Turning Ethereum from Glass House into Private Vault The Privacy Stewards of Ethereum (PSE)—an arm of the Ethereum Foundation—have published a new roadmap that re-positions the network from “radically transparent” to a global settlement layer where confidentiality is programmable. The shift is driven by three forces: MEV extraction made trivial by public mempools, institutional capital that refuses to telegraph every trade, and a regulatory climate that punishes blind anonymit...

The Big Picture—Turning Ethereum from Glass House into Private Vault The Privacy Stewards of Ethereum (PSE)—an arm of the Ethereum Foundation—have published a new roadmap that re-positions the network from “radically transparent” to a global settlement layer where confidentiality is programmable. The shift is driven by three forces: MEV extraction made trivial by public mempools, institutional capital that refuses to telegraph every trade, and a regulatory climate that punishes blind anonymit...

Spotlight → Shadows Thirty years ago he owned the stage lights. In 1990s Taipei, L.A. Boyz’s baggy jeans and bilingual rap cracked open Mandopop; front-man Jeff Huang was the first to bring American hip-hop to Chinese-speaking crowds. Thirty years later the same man, now crypto’s “Big Bro Machi,” sat in the glow of a different screen—Hyperliquid’s P&L terminal—watching US $60 million evaporate until only US $1,718 remained. He left Twitter a parting shrug: “Was fun while it lasted.”From Rap S...

Spotlight → Shadows Thirty years ago he owned the stage lights. In 1990s Taipei, L.A. Boyz’s baggy jeans and bilingual rap cracked open Mandopop; front-man Jeff Huang was the first to bring American hip-hop to Chinese-speaking crowds. Thirty years later the same man, now crypto’s “Big Bro Machi,” sat in the glow of a different screen—Hyperliquid’s P&L terminal—watching US $60 million evaporate until only US $1,718 remained. He left Twitter a parting shrug: “Was fun while it lasted.”From Rap S...

Today, anyone can spin up a prototype by chatting with a large language model or generate images without a design degree. Yet this super-power can vanish overnight. We neither own nor control it. A handful of corporations—OpenAI, Anthropic, Google—own the racks, the GPUs and the switch that powers most online services. We rent their brains. Picture the morning they pull the plug: a server hiccup freezes your product; a geofence locks out your country; a price hike prices out your start-up. In...

Today, anyone can spin up a prototype by chatting with a large language model or generate images without a design degree. Yet this super-power can vanish overnight. We neither own nor control it. A handful of corporations—OpenAI, Anthropic, Google—own the racks, the GPUs and the switch that powers most online services. We rent their brains. Picture the morning they pull the plug: a server hiccup freezes your product; a geofence locks out your country; a price hike prices out your start-up. In...

Project Background: Chillhouse is a Solana-based meme coin inspired by the combination of "Chillguy" and "House." Initially positioned as a "frankenstein meme," it aimed to satirize the hype culture within Web3. Community & Influence: Through consistent "abstract" style interactions, Chillhouse attracted attention and participation from key figures across multiple camps, including Base protocol lead Jesse Pollak, crypto KOL Cobie, Solana founder Toly, and pump.fun founder alon. Key Events: * ...

Project Background: Chillhouse is a Solana-based meme coin inspired by the combination of "Chillguy" and "House." Initially positioned as a "frankenstein meme," it aimed to satirize the hype culture within Web3. Community & Influence: Through consistent "abstract" style interactions, Chillhouse attracted attention and participation from key figures across multiple camps, including Base protocol lead Jesse Pollak, crypto KOL Cobie, Solana founder Toly, and pump.fun founder alon. Key Events: * ...

Consensus in the Air, Gold in the Dream Crypto has never lacked consensus. In this “dream economy,” consensus is the gold standard. From DeFi Summer to the NFT frenzy, from the Web3 mirage to the sudden AI boom, every wave was powered by collective belief. Today that wind is blowing toward RWA—real-world asset tokenization. Hong Kong’s internet giants, banks and funds are hovering, waiting to see if this is the next big thing. On the mainland, projects waving the RWA banner are sprouting like...

Consensus in the Air, Gold in the Dream Crypto has never lacked consensus. In this “dream economy,” consensus is the gold standard. From DeFi Summer to the NFT frenzy, from the Web3 mirage to the sudden AI boom, every wave was powered by collective belief. Today that wind is blowing toward RWA—real-world asset tokenization. Hong Kong’s internet giants, banks and funds are hovering, waiting to see if this is the next big thing. On the mainland, projects waving the RWA banner are sprouting like...